Short Interest in BitFuFu Inc. (NASDAQ:FUFU) Expands By 17.0%

BitFuFu Inc. (NASDAQ:FUFU) saw a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 159,124 shares, a growth of 17.0% from the February 12th total of 135,975 shares. Based on an average trading volume of 47,125 shares, the days-to-cover ratio is presently 3.4 days. Approximately 0.1% of the shares of the company are sold short. Approximately 0.1% of the shares of the company are sold short. Based on an average trading volume of 47,125 shares, the days-to-cover ratio is presently 3.4 days.

Institutional Trading of BitFuFu

Several hedge funds have recently added to or reduced their stakes in the company. Engineers Gate Manager LP bought a new stake in BitFuFu in the 2nd quarter valued at $36,000. Boothbay Fund Management LLC bought a new position in BitFuFu during the 4th quarter worth $31,000. Jane Street Group LLC bought a new position in BitFuFu during the 1st quarter worth $57,000. Prelude Capital Management LLC acquired a new stake in shares of BitFuFu during the third quarter worth $48,000. Finally, Squarepoint Ops LLC bought a new stake in shares of BitFuFu in the third quarter valued at about $48,000. 37.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FUFU has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of BitFuFu in a report on Wednesday, January 21st. Zacks Research cut shares of BitFuFu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.13.

BitFuFu Stock Down 1.7%

BitFuFu stock opened at $2.31 on Thursday. The company’s 50-day moving average price is $2.69 and its two-hundred day moving average price is $3.09. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.47. The stock has a market cap of $384.57 million, a P/E ratio of 5.92 and a beta of 0.35. BitFuFu has a twelve month low of $2.05 and a twelve month high of $5.85.

About BitFuFu

BitFuFu Inc provides digital asset mining and cloud-mining services in Singapore. It also offers miner rental, and miner hosting and sales services to institutional customers and individual digital asset enthusiasts. The company is based in Singapore, Singapore.